What was the total franchise fees revenue for Zoomin Groomin in 2023?
Zoomin_Groomin Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| ASSETS | |||
| Current Assets | |||
| Cash and Cash Equivalents | $ 71,234 | $ 111,382 | $ 4,894 |
| Inventory | - | 7,308 | 84,180 |
| Accounts Receivable | 386,516 | 212,876 | 161,766 |
| Prepaid Expenses | 1,530 | 1,538 | 28 |
| Income Tax Asset | 712,478 | 385,004 | - |
| Due From Affiliates | 4,819,061 | 2,429,123 | 176,000 |
| Total Current Assets | 5,990,819 | 3,147,231 | 426,868 |
| Other Assets | |||
| Intangible Assets, Net | 66,000 | 72,000 | 78,000 |
| Notes Receivable | 112,937 | 170,063 | 255,386 |
| Total Other Assets | 178,937 | 242,063 | 333,386 |
| TOTAL ASSETS | $ 6,169,756 | $ 3,389,294 | $ 760,254 |
| LIABILITIES & EQUITY | |||
| Current Liabilities | |||
| Accounts Payable | $ 12,509 | $ 83,586 | $ 2,056 |
| Due To Affiliates | - | 45,000 | 171,504 |
| Unearned Revenue | 100,000 | 40,000 | - |
| Deferred Tax Asset | 712,478 | 385,004 | - |
| Deferred Revenue - Current | 1,006,725 | 520,782 | 39,540 |
| Total Current Liabilities | 1,831,712 | 1,074,372 | 213,100 |
| Long-Term Liabilities | |||
| Deferred Revenue | 7,974,307 | 4,125,904 | 1,240,410 |
Source: Item 9 — 01. Financial Statements and Exhibits. (FDD pages 68–156)
What This Means (2025 FDD)
According to Zoomin Groomin's 2025 Franchise Disclosure Document, the franchise fees revenue for 2023 was $260,076. This indicates the income Zoomin Groomin generated from initial franchise fees paid by new franchisees joining the system during that year.
For a prospective franchisee, this figure provides insight into the franchisor's financial performance and growth trajectory. A consistent or increasing trend in franchise fee revenue may suggest a healthy demand for Zoomin Groomin franchises. However, it's important to consider this revenue in conjunction with other financial metrics, such as royalty revenue and total expenses, to get a comprehensive understanding of the company's financial health.
It is also important to note that franchise fee revenue can fluctuate depending on various factors, including the number of new franchises sold, any changes in the initial franchise fee, and the overall economic climate. Therefore, prospective franchisees should conduct thorough due diligence and consult with financial advisors to assess the risks and opportunities associated with investing in a Zoomin Groomin franchise.